Business, 10.03.2020 05:58 chocroc50

In an emergency, you used your credit card for a $500 cash advance. You just received your statement and your total balance due is $1,859, and the cash advance was the most recent charge. You want to be sure to pay for the cash advance so you send in a payment of $700. Your credit card has an APR of 12 percent. How much of your payment will apply to the cash

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Answer from: campbellkruger

$560 will apply to the cash advance.

Explanation:

Given : $500 in cash advance is owed to the credit card therefore this is the present value Pv

The Annual percentage rate is 12% which will be i

The number of years that i will pay off this advance is not given therefore we see that i pay $700 because I want to make sure I pay for the cash advance therefore this will be paid over 1 year or less.

Then we will use the Future value formula as to check how much will I be owing the bank for the cash advance only after taking into consideration the annual percentage rate.

which the future value formula is as follows:

Fv= Pv(1+i)^n

Then substitute the above mentioned values into this formula:

Fv = $500(1+12%)^1

Fv = $560

therefore after a year this is the amount that i will be owing the credit card even if I decide to pay it in less than a year still they will count the interest on Annual Percentage Rate basis so therefore in the $700 i paid the $560 was for the cash advance that I took most recently.

Answer from: Quest

among other factors, composers started writing dynamic markings in their scores because "new instruments allowed for more dynamic ranges and contrast."

dynamics allude to the loudness or softness of music. dynamics offer an approach to demonstrate articulation in sheet music. they to drive the enthusiastic substance of music through volume and force. maybe you could alter both the volume and the shading profundity on your screen at the same time. we can likewise think about the force side of elements as the quality of a note. a few notes are intended to be played delicately and gently, while others are intended to be played all the more firmly.

some dynamics markings have a letter 'm,' which remains for mezzo, signifying 'medium.' so a mezzo piano unique stamping resembles this (mp) and intends to play medium calm, while a mezzo specialty dynamic resembles this (mf) and intends to play medium loud.

Answer from: Quest

Answerjob evaluation;

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In an emergency, you used your credit card for a $500 cash advance. You just received your statement...

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